Press Release

Release Date: June 13, 2012

For immediate release

The Federal Reserve Board on Wednesday announced the issuance of a Consent Order of Prohibition against Jerry Williams, the former President, Chief Executive Officer and Chairman of the board of directors, and a former institution-affiliated party of Orion Bancorp, Naples, Florida, a former registered bank holding company, and Orion Bank, Naples, Florida, a former state-member bank that failed in November 2009.

Williams consented to the issuance of the order, which is based on his participation in unsafe and unsound practices, breaches of fiduciary duty, and violations of law and regulation that included his participation in a series of loan transactions to uncreditworthy borrowers that caused losses to the bank. The transactions were designed to make it appear, falsely, that bad loans on Orion's books had been reduced and that the bank had raised $15 million in new capital. These transactions affected the integrity of the bank's financial statements, regulatory reports, and books and records.

In addition to the Board's order, Williams has pled guilty to criminal conspiracy charges in connection with the fraudulent loan transactions. On June 12, 2012, he was sentenced to a prison term by the United States District Court for the Middle District of Florida.